Photo: Contributed
Thompson Rivers University took the first steps this week toward beginning the massive community development it plans to build on its land.
March 22 the TRU Community Trust announced it had secured its first development partner for its “master-planned community,” known as The Reach.
Cape Construction plans to break ground this summer on a four-storey, 5,300 square metre condo development which will officially mark the beginning of Phase 1 of The Reach.
TRU Community Trust says this initial project will generate $20 million of economic activity in Kamloops.
“Cape is an experienced and enthusiastic development partner who has agreed to build exactly what we envisioned for our first land offering,” says Finlay Sinclair, the president and CEO of the trust. “We couldn’t be happier with this historic partnership.”
Cape Constriction President Reisa Schwartzman added she is “excited to be part of creating a meaningful, lasting community for Kamloops.”
Her company’s project will be the very first development in TRU’s 25-year plan to create a The Reach – a walkable, urban community containing 3,500 multi-family housing units and a mix of retail and services on TRU’s endowment lands.
The plan sets out a community that could include features like strata housing, student residences, retail shops, restaurants, professional offices, and student assembly space.
The hope is that, once it’s complete, The Reach will enhance the vibrancy of campus life and make enough profit to funnel back into university programs, research and scholarships.
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